Interesting commentary on breakingviews and a satire from today's FT suggest that the whole boutique fad is being overdone. Thoughts?
http://www.breakingviews.com/sitecore/content/Hom…
http://www.ft.com/cms/s/0/803d42cc-3843-11de-9211-00144feabdc0.html?nclick_check=1
Good post.
Boutiques are certainly in vogue at the moment, but I don't think it's proper to consider them merely a fad. You will have banks that focus solely on financing, you will have banks that focus solely on advisory, and you'll have the bulge brackets that do both balance sheet work and provide advisory services.
With respect to prospective bankers, it's all about finding your niche and determining where you'll thrive whether that's at a boutique or at a BB.
I can see how the articles make sense given that there are so many boutiques emerging, and not all of them are going to be great. But given the success of the established players (Greenhill, Gleacher, Evercore, Moelis, Lazard for those who view them as a boutique), they will be strong for years to come.
Anyone who is interested in this should look at last year's article about Ken Moelis and his views on the return of relationship banking. Will be a very important point in the world of boutique advisory going forward.
http://moelis.com/news/documents/Dealmaker_The_Networker.pdf
Did you guys catch that? their tombstones are boob-shaped. LMAO
That's a great trend. In the future, I hope dealtoys will be a hooker and some blow.
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